Depression Articles

Secret To Becoming a Millionaire During A Depression

You should know that more millionaires were made during The Great Depression than in any other time in U.S. history. Do you want to know how they did it so you can cash in on the current economic situation?

I did a lot of research work to find the real information, not just the historical data dished out by the news media regarding how hard the depression was on the masses and how diligently the President worked to turn the U.S. economy around. It takes digging through stacks of research documents including the patent and copyright office files and the Library of Congress to find much of the data. But, there is a ton of data available on the internet if you dig deep.

There's one golden nugget contained in this history lesson that can enable you to make tons of money when our country is in a recession (like right now) because a recession is a depression of shorter duration and less economic damage. So bear with me while I give you a short history lesson that contains this golden nugget.

It is important to know that the Great Depression actually started a few years before the 1929 stock market crash and continued until World War II brought the country out of the Depression.

In the years before 1929, as more and more credit was extended to individuals and businesses the economy was tipping over the edge of the cliff from available cash to way too much credit debt. As the amount of extended credit reached a critical mass, and businesses could no longer pay the credit bills, the biusinesses crashed (the 1929 debacle.) When employees lost their jobs they could not pay their credit debts and the banking industries and housing market crashed.

The many business enterprises that changed hands during the depression by people with cash savings are too numerous to mention, but due to the war effort, those with cash savings who bought homes, land, companies, or invested in the stocks of the companies that produced products demanded by the U.S. government for the war effort made millions. These industries included products like:

1. Iron, steel, aluminum and copper 2. Communications equipment and replacement parts 3. Transportation: Aircraft, Tanks, boats and vehicles (and their parts) 4. Ammunition and weapons 5 - Boots, clothing, belts, helmets, caps, backpacks, hats, blankets, tents and cots (and the textiles to make them) 6 - Containers 7 - Shipping, truck and railway transportation 8 - Oil and petroleum and stock in iol wells (the Texas oil boom was a biggie!)

Some of the well known companies that were bought during that time were: Douglas Aircraft, Reynolds Metals, John Deere, Ericsson, and even the Goudy Gum Company (the first was just a preview in April to the tune of a $% billion bail-out) and the real estate crash / mortgage crisis.

My clients are getting rid of their credit debt and stashing cash savings with a vengeance. They sleep better at night and will survive whatever comes. Are you doing anything to prepare for the economic rollercoaster ride that is now underway?

Sandra Simmons, President of Money Management Solutions has years of experience helping business owners and individuals manage their money to achieve financial freedom. Claim your FREE REPORT "7 Fatal Money Management Mistakes Business Owners Make" (http://mms.pjeq.com/7mistakes)

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